ACES Act of 2023
- Last Action
- 7/28/2023
Actions
- 2023-07-28Referred to the Subcommittee on Innovation, Data, and Commerce.
- 2023-07-26Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-07-26Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-07-26Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2023-07-26Introduced in House
- 2023-07-26Introduced in House
CRS Summary
As of 2023-07-26 (00)
Anti-CCP Espionage via Social Media Act of 2023 or the ACES Act of 2023
This bill requires certain actions related to ByteDance Ltd., the Chinese parent company of TikTok (a video-sharing mobile application).
Specifically, the bill grants Executive Order 13942 the force and effect of law. That order prohibits certain transactions by any person subject to the jurisdiction of the United States with ByteDance. The bill provides statutory authority for that prohibition and specifies exceptions. Further, the bill establishes enforcement procedures and penalties for related violations.
The bill requires ByteDance, within 90 days of this bill's enactment, to divest itself of (1) any assets or property used to enable or support ByteDance's operation of the TikTok application in the United States, and (2) any data obtained or derived from TikTok application or Musical.ly application users in the United States. The bill outlines further requirements and procedures for such divestment.
The Committee on Foreign Investment in the United States (CFIUS) must review proposed sales or transfers by ByteDance to a third party. CFIUS may implement measures as necessary to verify compliance with the required divestment.
CFIUS must review and issue a report to the President on the relationship of each covered U.S. business with ByteDance to determine the effects of such relationship on U.S. national security. The President may take actions to suspend or prohibit the relationship.
Cosponsors (12)
- Brian Babin (R-TX)
- Jack Bergman (R-MI)
- Clay Higgins (R-LA)
- James Baird (R-IN)
- Pat Fallon (R-TX)
- Mary Miller (R-IL)
- Ralph Norman (R-SC)
- George Santos (R-NY)
- Nancy Mace (R-SC)
- Nicholas Langworthy (R-NY)
- Michael Guest (R-MS)
- Vern Buchanan (R-FL)
Subjects
- Accounting and auditing
- Asia
- China
- Civil actions and liability
- Congressional oversight
- Foreign and international corporations
- Government information and archives
- Government studies and investigations
- Internet, web applications, social media
- Presidents and presidential powers, Vice Presidents
- U.S. and foreign investments
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.